Debt with Less Drama: A Conversation with Gillian Tett

As policymakers in advanced economies confront the overhang of excess debt, developments in the unfoldingdebt restructuring and liquidation drama episodically threaten to roil financial markets. Meanwhile, emergingmarket economies faced with excessive credit expansion and overheating, battle to avoid further indebtedness.Join us as Gillian Tett, U.S. Managing Editor of the Financial Times, discusses the challenges of debt and theirimplications for the global economy and financial markets.

What are the growth implications of the debt overhang?

Will any of the advanced economies be able to grow their way out of debt?

Even if politicians muster the will, how effective is fiscal austerity likely to be in the EU, and in the U.S.?

What alternative, and potentially smoother and less disruptive, routes to debt liquidation might be taken, and what are their macroeconomic and financial market implications?

If policymakers do not act, at what stage and under conditions will market discipline most likely kick in?

What policies should be pursued in emerging markets to avoid excess credit expansion?